SUPPORTERS groups last night urged Tranmere Rovers to explain how the breach of a #900,000 loan agreement with a US financial group will impact on the club’s activities on and off the field.

Chairman Lorraine Rogers has offered no further comment since admitting to the Daily Post on Sunday that Tranmere have taken legal action against Mirabilis Ventures Inc.

Rogers agreed the deal with Mirabilis, Florida-based venture capitalists, on a visit to the US last summer. The loan is secured against a portion of land on the car park at the Prenton Park.

Members of the Trust and Supporters Association groups say they are concerned by the difficulties Rovers may be facing as a consequence of the affair.

Reports from USA have revealed that Mirabilis stand accused of defaulting on millions of dollars in promised payments in loans and investments to US businesses, according to lawsuits filed in Alabama and Florida.

Mirabilis are also under Federal Grand Jury investigation over employment tax collection issues.

Rogers said at the start of the week that Mirabilis was “in breach of their agreement with Tranmere and this is the subject of a legal action we have started.”

But she declined to add anything further, citing the legal action.

There is no word as yet from Prenton Park on how Tranmere plan to deal with the practical financial issues arising from the breach of the loan.

The League One club are indebted to controlling shareholder Peter Johnson to the tune of #6million. Yesterday, they announced pre-tax profits of just under #400,000 on the year ended June 30, 2006.

Ben Harrison, chairman of the Tranmere and Wirral Football Supporters Trust said: “There is a lot of concern among our members about the finances of the club, particularly at a time when gates are in decline and there is no immediate prospect of revenue coming in from cup runs or new player sales.

“When the loan was announced last summer the chairman said the money would be used to strengthen the squad, the youth set-up and improve Prenton Park.

“The question to be posed is: where is the money going to come from to cover those issues?”

Harrison, a businessman and former chief executive of the Liverpool-based Weston Spirit Charity said: “We would like Tranmere to clarify exactly what the legal action against Mirabilis is.

“Have any of the funds been drawn down?

“Is this going to leave a big hole in the cash flow?”

The TWFST hold the long-term objective of establishing a stake in the running of Tranmere.

Harrison added: “As a trust we would not like to see the club go further into debt without a meaningful way of getting out of it.”

Andy Doyle, chairman of the Tranmere Rovers Supporters Association said: “Many fans had questions, when the Mirabilis deal was first announced last summer, about why a multimillion-dollar business from Florida was interested in Tranmere Rovers.

“Now we find the club may be at a at financial disadvantage as a result of this association. We would like to know the club has spent money on the promise of these funds being made available.

“We already have a debt of #6m. My hope this does not mean our debt is increased to #7m.

“Our concern is very much for the future.

“We hope Rovers have the resources to persue the legal action to a successful conclusion.”

Rovers said prudent management, successful commercial operations and transfer revenue were responsible for club returning a pre-tax operating profit of #397,662 on last season.

Early exits from the three cup competitions and poor performances in the League resulted in a 16% reduction in turnover to #2.8m.

Operating expenses were reduced by 13% to #4.1m. Transfer income was #1.6m.